Kathmandu, 5 September: Finance minister Yubraj Khatiwada has tendered resignation on Friday afternoon as he saw no chance of his re-nomination as the member of the National Assembly, mandatory to become a minister as per the constitutional provision.
Khatiwada, Prime Minister KP Sharma Oli’s much liked minister, may get important responsibility soon, it is expected.
Sources close to Baluatar say that PM Oli may assign him as the financial advisor and keep on hold the finance portfolio with him, which will be looked after by Khatiwada.
The other source says that Khatiwada, who always enjoyed power especially during the then UML in the government – National Planning Commission vice chairman for two times and also Nepal Rastra Bank governor earlier to his assignment as the finance minister – is eying on the ambassadorial assignment to the USA. There is a high chance of his appointment as the ambassador, sources say.
Khatiwada, as the finance minister, could not show his performance as an effective minister. He is categorized as the average finance minister.
Khatiwada increased the area of taxation by squeezing local entrepreneurs and consumers but he was unable to curb unnecessary government expenditure. His decision to reduce import tax on sweets and increasing import tax on e-vehicles were guided by some vested foreign interests weakening national economy, observers say.
Khatiwada also followed the traditional trend of encouraging import-based revenue, whereas, domestic products and exports were discouraged.
People’s News Monitoring Service
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